According to the report from Golden Ten Data on January 3rd, although geopolitical tensions still pose significant concerns, the crude oil market is showing surprising stability. Prices are currently trading within the stable range of the long-term cycle, reflecting a relatively steady market sentiment.
Analyst Phil Flynn from Price Futures Group commented that the main issue lies in the abundant supply in recent times. “Despite potential geopolitical risks, the oil market remains resilient. Traders’ psychology is that supply will always be plentiful, so prices are supported by the stability of the supply,” Flynn analyzed.
This indicates that the current abundant oil supply is changing the market’s reaction to geopolitical events. Instead of being heavily impacted, crude oil prices continue to stay within familiar trading ranges, demonstrating market participants’ confidence that the supply flow will not be disrupted.
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Abundant oil supply - The market remains calm despite geopolitical concerns
According to the report from Golden Ten Data on January 3rd, although geopolitical tensions still pose significant concerns, the crude oil market is showing surprising stability. Prices are currently trading within the stable range of the long-term cycle, reflecting a relatively steady market sentiment.
Analyst Phil Flynn from Price Futures Group commented that the main issue lies in the abundant supply in recent times. “Despite potential geopolitical risks, the oil market remains resilient. Traders’ psychology is that supply will always be plentiful, so prices are supported by the stability of the supply,” Flynn analyzed.
This indicates that the current abundant oil supply is changing the market’s reaction to geopolitical events. Instead of being heavily impacted, crude oil prices continue to stay within familiar trading ranges, demonstrating market participants’ confidence that the supply flow will not be disrupted.